Total Asset Turnover
since 2013
Calculation
American Airlines Group Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Operating revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.84 | = | 52,788) | ÷ | 63,058) |
| Dec 31, 2022 | 0.76 | = | 48,971) | ÷ | 64,716) |
| Dec 31, 2021 | 0.45 | = | 29,882) | ÷ | 66,467) |
| Dec 31, 2020 | 0.28 | = | 17,337) | ÷ | 62,008) |
| Dec 31, 2019 | 0.76 | = | 45,768) | ÷ | 59,995) |
| Dec 31, 2018 | 0.74 | = | 44,541) | ÷ | 60,580) |
| Dec 31, 2017 | 0.82 | = | 42,207) | ÷ | 51,396) |
| Dec 31, 2016 | 0.78 | = | 40,180) | ÷ | 51,274) |
| Dec 31, 2015 | 0.85 | = | 40,990) | ÷ | 48,415) |
| Dec 31, 2014 | 0.97 | = | 42,650) | ÷ | 43,771) |
| Dec 31, 2013 | 0.63 | = | 26,743) | ÷ | 42,278) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).
1 US$ in millions
The financial trajectory from 2013 to 2023 is characterized by a period of sustained growth and operational stability, a severe disruption in 2020, and a subsequent robust recovery in asset utilization efficiency.
- Operating Revenue Trends
- Revenues demonstrated a consistent upward trend between 2013 and 2019, rising from US$ 26,743 million to US$ 45,768 million. This growth was interrupted by a sharp contraction in 2020, where revenues plummeted to US$ 17,337 million. A strong recovery followed, with revenues escalating to a period high of US$ 52,788 million by December 31, 2023.
- Total Asset Evolution
- The asset base expanded steadily from US$ 42,278 million in 2013 to a peak of US$ 66,467 million in 2021. Despite the revenue collapse in 2020, total assets continued to increase, reaching US$ 62,008 million. A modest reduction in the asset base was observed between 2021 and 2023, with the total settling at US$ 63,058 million.
- Total Asset Turnover Analysis
- The total asset turnover ratio experienced significant volatility over the observed period. After an initial peak of 0.97 in 2014, the ratio remained relatively stable, fluctuating between 0.74 and 0.85 from 2015 through 2019. A critical decline occurred in 2020, with the ratio dropping to 0.28, reflecting a severe misalignment between the expanded asset base and diminished revenue generation. From 2021 onward, a consistent recovery was observed, with the ratio improving to 0.45 in 2021, 0.76 in 2022, and returning to 0.84 by 2023, signaling a restoration of pre-pandemic operational efficiency.
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Comparison to Competitors
American Airlines Group Inc., total asset turnover, long-term trends, comparison to competitors
| American Airlines Group Inc. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2023 | 0.84 | 1.03 | 0.96 | 0.36 | 0.76 | 1.28 |
| Dec 31, 2022 | 0.76 | 1.09 | 0.99 | 0.38 | 0.67 | 1.41 |
| Dec 31, 2021 | 0.45 | 1.01 | 0.45 | 0.34 | 0.36 | 1.40 |
| Dec 31, 2020 | 0.28 | 0.94 | 0.33 | 0.31 | 0.26 | 1.36 |
| Dec 31, 2019 | 0.76 | 1.28 | 0.45 | 0.35 | 0.82 | 1.28 |
| Dec 31, 2018 | 0.74 | 1.25 | — | 0.39 | 0.92 | 1.44 |
| Dec 31, 2017 | 0.82 | 1.24 | — | 0.37 | 0.89 | 1.45 |
| Dec 31, 2016 | 0.78 | 1.09 | — | 0.36 | 0.91 | 1.51 |
| Dec 31, 2015 | 0.85 | 1.28 | — | 0.40 | 0.93 | 1.52 |
| Dec 31, 2014 | 0.97 | 1.38 | — | 0.46 | 1.04 | 1.64 |
| Dec 31, 2013 | 0.63 | 1.32 | — | 0.44 | 1.04 | 1.53 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).
Comparison to Sector (Transportation)
American Airlines Group Inc., total asset turnover, long-term trends, comparison to sector (transportation)
| American Airlines Group Inc. | Transportation | |
|---|---|---|
| Dec 31, 2023 | 0.84 | 0.88 |
| Dec 31, 2022 | 0.76 | 0.92 |
| Dec 31, 2021 | 0.45 | 0.76 |
| Dec 31, 2020 | 0.28 | 0.69 |
| Dec 31, 2019 | 0.76 | 0.86 |
| Dec 31, 2018 | 0.74 | 0.98 |
| Dec 31, 2017 | 0.82 | 0.95 |
| Dec 31, 2016 | 0.78 | 0.92 |
| Dec 31, 2015 | 0.85 | 0.97 |
| Dec 31, 2014 | 0.97 | 1.05 |
| Dec 31, 2013 | 0.63 | 1.02 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).
Comparison to Industry (Industrials)
American Airlines Group Inc., total asset turnover, long-term trends, comparison to industry (industrials)
| American Airlines Group Inc. | Industrials | |
|---|---|---|
| Dec 31, 2023 | 0.84 | 0.67 |
| Dec 31, 2022 | 0.76 | 0.66 |
| Dec 31, 2021 | 0.45 | 0.58 |
| Dec 31, 2020 | 0.28 | 0.50 |
| Dec 31, 2019 | 0.76 | 0.62 |
| Dec 31, 2018 | 0.74 | 0.67 |
| Dec 31, 2017 | 0.82 | 0.62 |
| Dec 31, 2016 | 0.78 | 0.61 |
| Dec 31, 2015 | 0.85 | 0.54 |
| Dec 31, 2014 | 0.97 | 0.49 |
| Dec 31, 2013 | 0.63 | 0.47 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).